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123 Santander but no job

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Can a 123 Santander account be opened if the applicant does not work?

Savings of £150k so can easily fund the £500 per month
Loved our trip to the West Coast USA. Death Valley is the place to go!

Comments

  • Neil_Jones
    Neil_Jones Posts: 9,549 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Don't see why not if you have good credit, the £500 monthly pay in is low compared to a lot of banks but having some income (work or benefit) is preferable.
  • Retired is usually a good occupation to put.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
    10,000 Posts Combo Breaker
    Retired is usually a good occupation to put.

    Or 'Homemaker' or 'Housewife/husband' if younger ;)

    With savings of £150k you should have a reasonable income from that, even if you are not employed and don't have a pension income (yet).
    "In the future, everyone will be rich for 15 minutes"
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    EachPenny wrote: »
    With savings of £150k you should have a reasonable income from that,
    With an average of below 2% AER, interest on £150k could hardly be called a reasonable income.
  • EachPenny
    EachPenny Posts: 12,239 Forumite
    10,000 Posts Combo Breaker
    colsten wrote: »
    With an average of below 2% AER, interest on £150k could hardly be called a reasonable income.
    Fair comment, but I meant in the context of the first reply which says "but having some income (work or benefit) is preferable".

    In my experience having zero income can be a problem, but having an income from savings (however modest) means there is something to put in the 'income' box if you don't have a salary, pension or benefits.
    "In the future, everyone will be rich for 15 minutes"
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